LONDON (Reuters) - Royal Dutch Shell (RDSa.L) said it remained fully committed to selling the majority of its stake in Japanese venture Showa Shell (5002.T) to refiner Idemitsu (5019.T) after the two Japanese entities announced a delay of a planned merger.
“As today’s statement from Idemitsu makes clear, there is no change to the timetable for the share sale and it remains subject only to regulatory approval,” a Shell spokesman said.
Idemitsu and Showa Shell announced the merger delay on Thursday citing to a lack of progress in talks with some of the stakeholders involved.
Reporting by Karolin Schaps. Editing by Jane Merriman